Crude oil prices have dropped to a nine-month low in Europe, with an industry research group reporting that the global supply of oil is more than adequate at the moment.
The price for Brent oil fell Tuesday on the London market to $103.61 a barrel, its lowest point since last November. The price for West Texas Intermediate crude sold in the United States stood at $97.43 a barrel, its lowest point since late last year.
The International Energy Agency, which advises industrialized nations on oil policy, said in a new report the uncertain global economy is holding down demand for more oil …read more
Source: Voice of America
